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Source: Cozystay Holdings Inc.

Tujia Sweetome Invests in Blockchain-Equipped Cozy Holding Corp.

Tujia, China’s largest vacation rental company and its offline property management group Sweetome, aim to leverage Cozy Holding Corp.’s blockchain capabilities and reach in North America

VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Cozy Holding Corp. best known for its vacation rental platform, Cozystay, is announcing that its property management company, Cozy Living has secured an investment from Sweetome. Sweetome is Tujia’s offline property management group.

This investment follows Cozystay’s recent announcement that it would integrate blockchain into its platform by way of a partnership with Singapore-based Share Everything Lab Pte. Ltd. (SEL).

Tujia is China’s biggest short-term property rental firm, and thought of by many as China’s AirBnB. In late 2017 Tujia raised $300 million from investors, valuing it at more than $1.5 billion. Sweetome accounts for approximately 40,000 properties throughout Asia and 20%-25% of all Tujia’s transactions.

“This investment provides Cozystay with additional fuel to grow our customer base and to advance our technology, while also providing us with increased access to the Chinese market. Both Tujia Sweetome and the Cozy brands are known and trusted in their regions and this will help both to continue to grow,” said Galen Cheng, Founder and CEO of Cozystay.

The integration of blockchain is set to improve various aspects of the vacation rental experience, including:

  • Eliminating double-bookings by providing a single source of truth without data being scattered across various rental platforms
  • Improving security and reducing fraud by offering robust data protection and identity verification
  • Increasing the quality of reviews by verifying reviewers and ensuring reviews cannot be changed
  • Decreasing fees by providing funds transfer via blockchain without third party markups

“This investment provides Sweetome with increased access to the North American market, as well as access to the Share Everything Lab blockchain platform which has the potential to improve the customer experience of the vacation rental and property management industry significantly,” said Justin Luo, Co-Founder/CEO of Tujia.

Cozystay has 60,000 users, 200,000 listings worldwide and offices in both Vancouver, Canada and Beijing, China. The company serves a large number of Chinese-speaking hosts and the platform itself can be used in Chinese.

There has been an enormous increase in the number of Chinese tourists globally, growing from 10.5 million overseas trips by Chinese tourists in 2001, to 145 million in 2017. Chinese travellers tend to have different expectations than Western travellers including a desire for an increased level of service. Companies such as Tujia and Cozystay are tailored to satisfy these unique needs.

About Cozystay Holdings Inc.
Cozystay Holdings Inc. is a vacation rental platform targeting global Chinese vacationers. Incorporated in January, 2015, the company is headquartered in Vancouver, B.C., with a sales and technical office in Beijing, China. Cozystay runs a subsidiary property management company, Cozy Living Suites Inc.,that manages vacation rental properties in Vancouver, Seattle, Los Angeles and Toronto. Learn more: www.cozystay.com

About Tujia
Tujia.com, China’s leading lodging-service sharing and booking platform, has been devoted to offering guests diversified and distinctive lodging services since its launch on 1 December 2011. With its headquarters in Beijing, Tujia has expanded its lodging-service network to over 345 domestic and 1,037 overseas destinations with over 1,200,000 online residential houses, including apartments, homestays, and villas as well as traveling services that can cater to various accommodation needs. Guests can book a range of lodging services by using the Tujia website, mobile app, official WeChat or 24/7 customer call center. Sweethome is Tujia’s offline property management group.

About Share Everything Lab Pte. Ltd:
Share Everything Lab Pte. Ltd. (SEL) is a company incorporated in Singapore that will facilitate all token sales and the Token Generation Event (TGE). Cozystay will be providing the technical services to SEL in connection with the development, integration and issuance of SHR Tokens and development and maintenance of the SHR Platform. Learn more: https://shreverything.com/

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